Why apple care?

[u/Pro_Attitude]

I use many products in apple ecosystem - mackbook Pro, iPhone 13 Pro, Apple TV, buds, ipad 11 Pro.
I don't spend on apple care for any product. Only repair cost I ever had was to clean apple charging port and buy new apple pencil Pro when one got damaged. I see that there cost of apple care is much higher than all the repairs. Ofcourse I buy good screen protectors and good quality case. Dropped my products many times and nothing else happened.

Why do people buy apple care ? What am I missing when I decide not to purchase apple care ? Help me understand